[Ferro-Alloys.com] 

  Daming International announced on February 22 that at present, the company's public shareholding is about 18.78%, which is lower than 25% of the company's total issued share capital. It is understood that in 2020, the sales volume of Daming international stainless steel was 1.9213 million tons, a year-on-year increase of 4.9%, and the processing capacity was 2.7943 million tons, a year-on-year increase of 5.3%. The sales volume of carbon steel was 2.6691 million tons, a year-on-year decrease of 1.4%, and the processing capacity was 3.31318 million tons, a year-on-year increase of 3.9%.

  It is reported that China Baowu has acquired 51% of the shares of Taiyuan Iron and steel, and the acquisition has been completed. Before the completion of the acquisition, China Baowu and TISCO stainless held about 8.33% and 8.33% shares respectively. Immediately after the completion of the acquisition, Taiyuan Iron and steel has become a subsidiary of China Baowu, and China Baowu has become a major shareholder of the company (it holds about 16.66% equity of the company (including 8.33% equity directly held by China Baowu and 8.33% equity indirectly held by China Baowu through TISCO).

  The announcement said, according to the equity disclosure form submitted by China Baowu on December 28, 2020, China Baowu has an interest in 207500000 shares of the company, accounting for about 16.66% of the total issued share capital of the company as at the date of this announcement.

  According to the announcement, as China Baowu owns about 16.66% of the total issued share capital of the company and has become a major shareholder of the company, it has become a core related person of the company according to the listing rules. As at the date of this announcement, (1) Lianhao Group Co., Ltd., the controlling shareholder of the company; (2) China Baowu, the company's core connected person; (3) other connected persons of the company hold about 81.22% of the company's equity, resulting in the decrease of the company's public shareholding to about 18.78%, which is lower than the minimum percentage specified in rule 8.08 of the Listing Rules of the Hong Kong stock exchange.

• [Editor:Catherine Ren]